3 success strategies for 2021

Business owners and managers who survived and thrived in 2020, says our friend Ruth King, used these 3 simple strategies:

1. They paid close attention to their customers….even when they didn’t want to sell them anything. They reminded their customers that they were there for them. These messages helped keep customers aware they were thinking of them. We send these Business Blogs to our customers weekly.

We  also call to check with them for news for our business pages. This way we remind them that we care abut their successes and want to let our readers know about them.

2. They reactivated inactive customers. They looked for customers who had bought in the past but not recently. They found reasons to activate their inactive customers with a new product or service offer.

We look back at this time last year for who advertised what and contact dormant accounts to find out how we might help them increase sales and revenue.

3. They reviewed past quotes and proposals. Some of these quotes/proposals turned into sales a year later. The comment from many customers, “No one followed up with me. You’re the first.”

We share such field-tested strategies in our 3-CD “Make Yourself a Super Star” self-study course. For details, email JerryBellune@yahoo.com.

Next: Leave no money on the table

Copyright 2021, The Bellune Co., Inc.

Ignore your balance sheet at your own risk

Do you check your profit and loss statements and balance sheets monthly?

They tell you how profitable your business is, says our friend Ruth King.

Your balance sheet shows your current assets divided by current liabilities.

Current assets are cash, accounts receivable, inventory and prepaid expenses.

Current liabilities are accounts payable, taxes payable, deferred maintenance revenue and current portion of long term debt.

Increasing current ratio, most of the time, means increasing profitability. Decreasing current ratio, most of the time, means decreasing profitability.

Your balance sheet also tells you if:

• You may be running out of cash

• Have uncollected billings you need to take action to collect.

• You are taking on too much debt, too much inventory or other cash suckers.

Your balance sheet is your weather vane. It gives warning signs of impending problems so that you can take care of them before they become major crises.

Want more on cash management? Order Ruth’s book, “The Courage to be Profitable: Get and Stay Profitable in Less than 30 Minutes a Month” on Amazon. You can sign up for her free newsletter at rking@profitabilityrevolution.com

Next: Run and ELF business.

Copyright 2020, The Bellune Co., Inc.

Why do your customers buy from you?

Our friend Ruth King says you need to know why your customers do business with you for 4 make-or-break reasons:

1. It defines your business purpose. It’s the reason your customers pay you to take care of their needs, wants and dreams.

2. It sustains your motivation. This is the reason you are in business. Every employee should know why your customers do business with you. If you can’t tell them, they haven’t a clue. Remind them often. 

3. Your company operates on profitably taking care of your customers. You don’t need customers who are not profitable. 

4.  You know your marketing messages should include testimonials from your customers. “Here’s what our customers say about us” or “Here’s why our customers do business with us” should be in all of your marketing messages.

Ask your customers why they do business with you. Ask your employees why they think your customers do business with you. You may be shocked at the answers. If you don’t like their answers, find out what’s wrong and change it. 

We share such field-tested strategies in “Killer Secrets of Successful Entrepreneurs.” In it, 22 highly successful entrepreneurs share closely-guarded secrets with you.

For a $20 copy for $10, email JerryBellune@yahoo.com.

Next: Customers from Hell.

Copyright 2020, The Bellune Co., Inc.

Ignore your balance sheet at your own risk

Do you only check your profit and loss statements? Your balance sheet tells you much more than your profit and loss statement, says our friend Ruth King. It actually tells you how profitable your company is.

Your balance sheet shows your current assets divided by current liabilities.

Current assets are cash, accounts receivable, inventory and prepaid expenses.

Current liabilities are accounts payable, taxes payable, deferred maintenance revenue and current part of long term debt.

Increasing current ratio means increasing profitability. Decreasing ratio, most of the time, means decreasing profitability.

Your balance sheet also tells you if:

  • You may be running out of cash
  • You have a collection problem
  • You are taking on too much debt or too much inventory.

Your balance sheet is your weather vane. It gives warning signs of impending problems so that you can take care of them before they become major crises.

If you want more information on how to understand your balance sheet, order Ruth’s book, The Courage to be Profitable: Get and Stay Profitable in Less than 30 Minutes a Month. It’s available on Amazon, on Audible, or if you want an autographed copy, call her at 770-729-0258.

Sign up for Ruth’s complimentary newsletter at rking@profitabilityrevolution.com

We share such ideas in Maverick Entrepreneurs’ Million Dollar Strategies.

For a $20 personally autographed copy, contact us at 803-331-6695.

Copyright 2020, The Bellune Co., Inc.

Your 2020 whats, hows and whys

We met with our Congressman earlier this month to talk about his 2020 agenda.
He is a busy man whose district covers a lot of territory and those who live there. But he showed us a list of 14 goals for 2020.
That took thought. But he has in writing what he needs to do. You can, too.
You will need 3 things to make 2020 successful: Your whats, hows and whys.
Our friend Ruth King explains:

  1. What do you want to do? Write what you want and need to achieve. It is your 1st step to get what you want and need.
  2. How are you going to do it?
    What are the steps you must take to accomplish your “what.” For financial goals, a budget is the 1st step. Make sure you review actual results against projected results and take action based on the results.
    For non-financial goals, write a plan of how you think you will do it. What can you do alone? What do you need from others? If so, what’s in it for them to help you?
  3. Why do you want it?
    You need a really good why to have a good chance of reaching your whats.
    Review your plan each month. Schedule time to do it in your calendar. It will remind you to actually get it done.
    We share such ideas in “Maverick Entrepreneurs’ Million Dollar Strategies.”
    For a $20 personally autographed copy, call Katie at 803-359-7633.
    You can get an electronic copy through Amazon by clicking here https://amzn.to/2DUhf18 .
    Copyright 2020, The Bellune Co., Inc.

Can your business pass this financial test?

Our friend Ruth King says financial statements are our scorecard. We need them on time to properly price our offers, make good decisions to earn a profit, spot minor issues and resolve them before they become major crises.
A financial statement prepared by the company’s accountant quarterly is unacceptable. Boxes of receipts delivered to our accountants at the end of the year are unacceptable. Timely, accurate financial statements on the last business day of the month help you spot and fix minor problems before they become major ones. Our long term survival depends on them.
The first thing to do with financial statements is a quick review. If something looks wrong, question it and get it right before going any further. Is income up or down from this month last year? How about payroll and other expenses? Do you know why they differ? Is this a good or bad sign?
Calculate ratios which answer:

  1. Can we pay all of our bills?
  2. Are costs too high?
  3. Do we have a collections problem?
  4. A personnel productivity problem?
  5. Are we carrying too much debt?
    Ruth’s “The Courage to be Profitable” explains each ratio in detail. It’s available on Amazon. For an autographed copy, call her at 770-729-0258.
    We share such ideas in “Maverick Entrepreneurs’ Million Dollar Strategies.”
    For a $20 personally autographed copy, contact us at 803-359-7633 or email JerryBellune@yahoo.com . For an electronic copy click here to see the book on Amazon.
    Copyright 2019, The Bellune Co., Inc.

Is someone secretly stealing from you?

How do you know your bookkeeper, employees or vendors aren’t helping themselves to your hard-earned revenue?
After working with business owners for 38 years, our friend Ruth King can almost smell when the books are not right.
Often it is a bookkeeper, employee or vendors. Ruth hates telling owners, “Someone is embezzling and here’s the proof.”
All leave tell-tale signs. Sadly, most could have been caught quickly by owners doing one simple thing – having their bank statements sent to their homes.
If you aren’t getting your bank statements sent home, stop reading this and get your bank to send your statements home.
Check them carefully. The microfiche’s show signatures, who the checks were written to and the numerical sequences. If something doesn’t make sense, ask questions. This is your first line of defense!
Ruth has caught vendors changing the amounts on checks before depositing them. A $40 auto repair invoice became $400 when the vendor deposited the check.
You have to watch your vendors, too.
Get Ruth’s helpful newsletter by writing her at rking@profitabilityrevolution.com
We share such ideas in “Maverick Entrepreneurs’ Million Dollar Strategies.”
For a $20 personally autographed copy, contact us at 803-359-7633 or email JerryBellune@yahoo.com.
Copyright 2019, The Bellune Co., Inc.

Your best source of new business

All of us know we should ask for referrals but we too often forget to ask.
Our friend Ruth King advises her coaching clients to place a statement at the bottom of their bills, proposals and the backs of their business cards.
Print “We grow our company through referrals from satisfied customers. If we provided excellent customer service, please tell your friends and colleagues. If we did something wrong, please tell us and we will fix it. Our goal is 100% customer satisfaction.”
This statement lets a customer know that you are serious about providing outstanding customer service and that you appreciate referrals. Some will call you with referrals. Some will let you fix a problem rather than spreading the fact that they were unhappy to friends, neighbors, and social media.
The statement on proposals should be slightly different: “We grow our company through referrals from satisfied customers. If we provide excellent customer service when you become our customer, please tell your friends and colleagues. If we did something wrong, please tell us and we will fix it. Our goal is 100% customer satisfaction.”
We share such ideas in “Maverick Entrepreneurs’ Million Dollar Strategies.”
For a $20 personally autographed copy, contact us at 803-359-7633 or email JerryBellune@yahoo.com.
You can also order an electronic edition through Amazon by clicking here.